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ABC
Dec 9, 2012 11:35pm EST
between president obama and congressional republicans must do more than simply avoid the fiscal cliff to get america pause economy growing again. >> there is still the degree of uncertainty. investors, entrepreneurs households, are not making decisions because they do not know what tomorrow will be. >> but washington's top republican leader, house speaker john boehner, complains there has been no progress in avoiding even immediate crisis. >> when it comes to the fiscal cliff disrupting our economy and threaten jobs, the white house has wasted another week. >> democrats shona signs of backing off from supporting the president's hard-line stance on raising the income tax rate on the rich. >> we realize there have to be two sets to the bargain, but we are not going to go back to what we did in 2011 putting both revenues and cuts on the table. >> despite the impasse in washington promising signs the economy might be improving -- more job creation, improvement in the housing sector, and a decrease in household debt. solution -- spending cuts combined with an increase in tax revenue. >> talks about the fiscal cliff and the me
KRON
Dec 9, 2012 11:00pm PST
boehner met today to discuss the fiscal cliff. this comes as the head of the international monetary fund said failing to reach a deal would have far reaching effects on the economy. >> reporter: a quick fix is not the answer for resolving the fiscal crisis. a more comprehensive solution is needed. she says any deal must do more than avoid the fiscal cliff to get america's economy growing again. >> there is still the degree of uncertainty that prevents investors from making decisions. >> reporter: but washington's top republican leader speaker of the house john boehner explains there has been no progress. >> when it comes to the fiscal cliff that is threatening the economy and the jobs the white house wasted another week. >> reporter: democrats show no signs of backing off from sporting the president on raising the income tax on the rich. >> there has to be two sides to the bargain but we are not going to go back to 2011, put revenues and cuts on the table. >> reporter: but despite the impasse in washington, he sees signs the economy is improving. for the fiscal cliff she represent as balanced solution. spending cuts and a increase in taxes. kron 4 news. >>> we have clear ski
NBC
Dec 9, 2012 2:30am EST
. i will talk to the former cabinet secretary who says going over the fiscal cliff is better than getting a bad deal. >>> the auto industry is back. what it is doing right even in a soft economy. we will find out what is driving profitability. >>> and curtains up on the billion dollar women who made the lion roar. my conversation with julie taymor. >> it's made 4 to $6 billion no no one complained about it. >> >> "wall street journal report" begins right now. >> this is america's number one financial news program "wall street journal report." no now, maria bartiromo. >> here's a look at what is making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in november. much better than economists' expectations. the unemployment rate drop theed 2/10 of a percent now at 7.7%. the best number since december of twachlt the labor department says superstorm sandy had little affect on those numbers. >>> the markets continue their familiar pattern of following the latest word or words or hopes on the fiscal cliff. no major moves during the week, but several times the market ran out of steam toward the end of the trading session.
ABC
Dec 9, 2012 5:00pm PST
republicans must do more than simply avoid the fiscal cliff to get america's economy growing again. >> still have up certain that -- uncertainty that fuels doubts, stops people from making decision. >> bud washington's top leader, house speaker john boehner, says there has been little progress. >> when it comes to the fiscal cliff threatening our economy and threatening jobs, the white house has wasted another week. >> democrats show no signs of backing off from supporting the president's hard-line stance on raising the incomes tax rate for the rich. >> we democrats realize there have to about two sides to the bargain, but in 2011 we put both revenues and cuts on the table. >> but one republican senator revealed this week that tax increases might help solve america's debt crisis. so far the g.o.p. has stood imeps raising taxes. >> what we ought to be working on is the other 93%, because if you want to do what he wants on tax rates, you affect% of the deficit. we have spent ourselves into a hole and we're not going to raise taxes and borrow money and get out of it. so, will i accept a tax inc
CNBC
Dec 9, 2012 7:30pm EST
>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now. now, maria bartiromo. >> here's a look at what's making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading session. the house of representatives left for a long weekend on wednesday. so while there may be behind the scenes action in terms of talks, no one from the house is home. big moves by citi
CNN
Dec 8, 2012 6:30am PST
. nothing should be done that should cost us more jobs. can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle class for the rates they are, the best down payment. that's the best easy first step and i hope congress will realize take a step and take it now and give the president something he can sign. >> that has to be the last word. thanks, guys. >>> from the downward slope of the cliff to the upward climb on jobs, a big surprise in the november jobs numbers. it's a step in the right direction, but ali velshi will join me with a look at why we need to do much more. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, a
FOX
Dec 7, 2012 12:00pm PST
fiscal cliff. >> he said democrats are slow walking the economy to the fiscal cliff, yet, this is the same republican leadership that has the house in session barely a day. barely a full day this week. >> the fiscal cliff is the term that is given to a set of spending cuts and tax increases that will take effect in january if congress does not act to stop them. >>> investigators are trying to determine what happened before a football fan fell or jumped from the third deck at the oakland coliseum. he fell to the concourse during last night's broncos, raiders game and taken to the hospital with serious injuries. they called it an accident and it remains under investigation. >> the rails are like three to 4 feet. if you don't pay attention, you can fall. he fell yesterday. >> the raiders did issue a statement. the team had no information beyond what authorities are releasing. their thoughts and prayers are with the family and friends. >>> coming up in a few minutes, roger good dell will say where the raiders shall play in the future and who would pay to build a new stadium. >>> this
PBS
Dec 12, 2012 4:30pm PST
deal on the fiscal cliff that prevents the economy from falling back into recession, susie. >> susie: well, he better wish that again when he blows out the candles on his cake. at the present -- you know, i was struck by how much he talked about the fiscal cliff in very clear language, saying that it is a serious problem, it is already impacting the economy. and here is the important part: there is really nothing more the fed can do about it to offset going over the cliff. darren, you've been talking to so many lawmakers on the hill. do you think they're getting his message, and also in the white house as well? >> i really don't think so. i think they're aware that there are economic risks out there, but the battle between the president and the republican party and the speaker is kind of like that old saying about when elephants fight, the grass gets crushed. >> susie: i never heard that before. >> well, they're focused on the very big issue of tax res, what e future of the fiscal policy of the country is. yes, they understand there are some economic risks, but i think they
ABC
Dec 7, 2012 4:30am PST
. >> reporter: the fiscal cliff is still three weeks ago the economy may have already taken a hit economists predict the jobs report will show employers added fewer than 100,000 workers in november. superstorm sandy may be part of the reason, worry over the fiscal cliff may have also had an impact. some estimate at least 200,000 fewer jobs have been created this year, due to urn certainty about the fiscal cliff. -- >> reporter: >> the president: it is important we get this done now. >> reporter: in washington republicans and democrats are talking, no breakthrough locked in a stalemate. president obama demanding higher tax rates for the wealthy and permanent extension of the debt ceiling be part of a deal. >> he showed what is he is after is assuming unprecedented power without limit. >> reporter: republicans say they will only raise tax revenue in exchange for deep spending cuts. if washington can't strike a deal one casualty would be the end of compensation for long term unemployed, people like melinda worried. >> christmas and things of that nature probably off the table. >> reporter: aide
MSNBC
Dec 7, 2012 11:00pm PST
report. when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> welcome back to "hardball." that was speaker boehner's downbeat assessment of fiscal negotiations. he went on putting blame squarely on the president. let's listen. >> this president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. it's time for the president, if he's serious, to come back to us with a counteroffer. >> shortly after, house minority leader nancy pelosi put the blame back on republicans. let's listen. >> the only obstacle standing in the way of middle income tax relief are the republicans' unwillingness to ask the top 2% to pay their fair share. this is a moment of truth. the clock is ticking. christmas is coming, the goose is getting fat, but in many homes across america it's very -- a very, very lean time. >> and today's jobs report showing 146,000 jobs added in november and unemployment dipping to 7.7% may give the president some leverage in negotiations with boehner. but while the pre
CNBC
Dec 12, 2012 2:00pm EST
projections now given the uncertainty over the fiscal cliff? how sort of plastic are these? >> are you talking about the sep projections? >> yes. >> clearly the fiscal cliff is having effects on the economy. even though we are not yet even reaching the point of the fiscal cliff potentially kicking in, it is already affecting decisions by creating uncertainty or pessimism. we saw what happened recently to consumer sentiment which fell, presumably in part because of concerns about the fiscal cliff. so clearly, this is a major risk factor and major source of unsinnerty about the economy going forward. i would suspect and although, the par participants don't all make this complicit, but i would suspect what they are assuming in projections is that the fiscal cliff gets resolved, and some intermediate way whereby there is still some fiscal drag but not as much as implied bit entire fiscal cliff. i think that is probably the underlying assumption that most people took when they made their projection. but you are absolutely right, there is a lot of uncertainty right now. and if the fiscal cliff situation turns out to be resolved in a way very different from our expectations, i'm sure you would see ch
FOX Business
Dec 5, 2012 7:00pm EST
: treasury secretary today said the obama administration is now willing to go over the fiscal cliff. moody's chief economist, deutsche bank senior u.s. economist telling us just how much that will hurt the economy and the markets, and, of course, investors and everyone in this country in today's money lineup, news on the economy brought life to wall street today inspiring some investors, the news an unexpected increase in factory orders up for a second straight month, and the biggest gains in productivity in the third quarter in two years. business activity, along with new orders, showing their biggest gains last month since the first quarter. stocks finished off their highs. the dow up 83 appointments at the close. the s&p gaining 2.25, and the nasdaq under the weight and pressure of the biggest stock, apple, dropping 23 points. volume today rising to almost 4%.2 billion shares. app 8 stock, as i said, today, laggerred and immense weight on the mark. that stock fell 6.5%, $37, and concerned about the lack of new products on the horizon, concern increased competition in the market might force apple to cut margins to remain competitive that added up to apple's worst decline in four years. the sellin
CSPAN
Dec 8, 2012 6:00am EST
need to be part of any agreement to appoint -- agreement to avoid the fiscal cliff? >> this is serious fiscal and tax policy. it is about the economic future of our country and making sure this country continues to be the greatest economy and the greatest country in the world. it is not a game. i am with the president on this one. we saw the response of the market in august with the republicans were willing to go off of the fiscal cliff. some of them are saying it now, not paying on our debt and jeopardize the full faith and credit of the united states. this is not a game. if we do not pay our bills and pay our debt, we are going to see interest rates going up. it is not where you make the decision about spending and the budget. you have already made those decisions. this is just about paying the bills. he gets is serious in this country. we have to get the deficit under control and begin to pay down the that feed -- pay down the debt. the last thing we want to do to what is an economic recovery, but a fragile one, we cannot go back to threatening consumer investments for having the government failed to meet one of the basic obligations, which is to pay our bills. >> let me ask you about your view on the impact. if you are
FOX News
Dec 5, 2012 3:00pm PST
going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not enough. the holdup is boehner took a position the day after the campaig
CNN
Dec 9, 2012 12:00pm EST
global economy if the u.s. goes over the fiscal cliff? >> markets i think would react very quickly. >> we'll talk to the woman who's keeping a close watch. my interview with imf chief christine lagarde is next. reti. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ at the chevy year-end event because chevy's giving more. more efficiency with sonic and cruze... more function in equinox and traverse... more dependability with the legendary silverado... and more style in the all-new malibu. chevy's giving more at the year-end event because 'tis the season. chevy's giving more. this holiday season, get a 2013 cruze ls for around $169 per month or get $500 holiday bonus cash. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to
CNN
Dec 9, 2012 9:00am PST
states accounts for 20% of the global economy so no surprise the world the watching that fiscal cliff. as head of the international monetary fund, christine lagarde says u.s. leaders need to reach a deal and soon before that uncertainty damages the global economy. i spoke with her earlier. let me start out because we have new unemployment figures this week which shows that unemployment has dropped to 7.7, lowest in four years, new jobs numbers, 176,000 new jobs created. translate for me into what it means for the u.s. economy. describe the u.s. economy through those figures. >> u.s. economy is creating jobs. right? which means that it's doing a bit better and some people have decided that they were going to open new positions, which is a sign of trust in the economy. in addition to that, you have got a housing sector, which has begun to pick up, at least it's bottoming out now. you've got households that have reduced their debt in general, so you have quite a few signs that the situation is beginning to improve from, you know, five years of crisis, essentially. yet not all numbers are good. if you look at the deficit, high, much higher in the u.s. than in the euro zone for instance. if you look at debt, much higher than many countries in the euro
CNBC
Dec 11, 2012 4:00pm EST
invest in the markets today without considering the fiscal cliff? >> yes. >> is there a strategy to go forward. >> i just tried to ortic lays and saying to yourself it won't ind mine the economy so i'm going to v.on the fundamentals, growth, competitiveness and earnings and so forth depending on the situation. i think investors would be wise to look beyond the fiscal cliff because all the fears it's tomorrow doing the economy are misplaced. >> most economists have said if we go into 2013 without a deal we'll go into recession. >> we might have into 2013 for three days or knife days or a week before there's a deal. that's about it. the pressure from financial markets will be too great so the scenario that you just referred to to, we go over the cliff, had and the economy sinks. i want to emphasize that cannot happen. >> let me move on to another topic. timothy geithner has said he's not returning for another four years. your name has been mentioned as a replacement. >> of course they are not going to make any changes during that team during the pennedsy of all of this. the president has lots of good choices for whatever comes next. i very much doubt that i'll be part of that but
FOX News
Dec 7, 2012 2:00am EST
. >> interesting outfit. >> my gosh! >> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree but for different reasons. fiscal cliff is a horrible med fore. i means the high grade lef
FOX News
Dec 6, 2012 5:00pm EST
upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree but for different reasons. fiscal cliff is a horrible med fore. i means the high grade leftism. what you get are massive cuts in defense. and higher taxes. that means the government expands without improving the one thing that works. so you are feeding obese fat man called the government who still isn't doing any good. what they are doing is blackmailing us. president obama is blackmailing saying if you don't do this, if you don't raise taxes on 2%, this is what will happen. >> eric: can i take issue with that? what if we don't go off the fiscal cliff? we are about sequestration later and do
FOX News
Dec 7, 2012 12:00am PST
. worried about the fiscal cliff? the economy, ben go swrea? -- benghazi? no need, my friend. the economy has been saved. they removed the word lunatic from the law. the act of 2012 aimes to eliminate, quote, references that contribute to the stigmata swraition of mental health conditions in account as of congress. like a 1947 law that read the words insane and it should include every lunatic and sane person. sorry, bill, the word in it is being left in. the measure has the backing of the psychiatric association. he is not buying it as he explains to neil kavudo. >> not only should we eliminate the word lun atic when the world is on the brink of bankruptcy we should apply it to anybody who wants to do business as usual in washington. >> in the business we call that a sick burn. now more to sneak attack cat in the house chambers. >> i wasn't surprised by sneak attack cat. when your name is sneak attack cat you give it away you stupid cat. bova, do you feel better knowing it was purged from law? >> yes. i feel we are on the way to recovery. if you ban the word "lunatic" why not ban
MSNBC
Dec 6, 2012 2:00am EST
country go over the fiscal cliff. just to protect the top 2%. better to take the hit now, they argued, than in january with the world economy in turmoil and second recession coming. number two, john boehner, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more. number three, there's talk for the republican leaders that they could vote to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes
FOX News
Dec 8, 2012 3:00pm PST
president agree we cannot go off the fiscal cliff. our economy cannot sustain that and it cannot happen. >> when is the sausage done? >> the sausage will get done a couple of hours before christmas eve. they will keep them in the house until very late. they will put something through at the very end. it won't be pretty. it won't be a long-term solution, and my guess is they will put a bandaid long enough to get us to about february where we can have the same discussion when we hit the debt limit ceiling in february and do it all over again. >> debbie, what is your prediction on this? >> i think chip and i agree it will be the end of the year. i have told congressional spouses they should plan on their spouses working between christmas and new year's, and that's what the american people want. they are elected to govern and that's part of the job. >> do you agree with chip that it will be a temporary fix? >> i don't know. >> it will just take us into the new year, or will they do a grand bargain here? >> well, i think you could get a grand bargain, but i think you can't do the kind
MSNBC
Dec 12, 2012 8:00pm PST
went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to parents everywhere, call your representatives today, tomorrow, and every day until they pass the tax cut that is so important to you all. >> i guess we're pulling out all stops. senate republican leader mitch mcconnell was not really in the holiday mood today. he claims the president is not giving republicans anything to work with. >> the president and his allies have taken so many things off the table, the only thing left is the varnish. >> well, that's good news. house speaker john boehner says the white house offer is dead in the water. >> the president is calling for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >> here is a news alert for speaker boehner. it's his job to get a deal to pass the house. today i spoke with congressman chris van hollen on my radio s
CNBC
Dec 6, 2012 4:00pm EST
do you think we come out on the fiscal cliff? are you expecting the economy to go over the fiscal cliff and see these taxes go high hadder and spending cuts take effect? >> my personal view is i'm still optimistic. i think the conversation has been constructive since. do we have a solution on the table yet? no. but i'm optimistic we'll get to a framework. >> why? >> there's been enough dialogue. there's been movement. everyone seems to recognize the problem. everybody realizes there has to be a revenue component, spend component, entitlement reform component. for us, the business community and all the ceos, certainty is the greatest stimulus for us. >> do you support tax rates going higher? >> me personally, as an individual, more importantly the business community, which i'm part of. we support something inclusive. if rates were higher in a videocasset vacuum, i'm not sure we'd be supportive of that. we have to make sure the consumers, those who spends a lot of the dollars, the middle class, are protected in this exercise. >> i guess the question i'm really getting at is, do you
PBS
Dec 7, 2012 6:30pm PST
of the biggest risks is that we don't see a deal on the fiscal cliff, or that they drag it out over a number of months. and that that really erodes confidence. >> reporter: against that backdrop, the federal reserve is trying to do all it can to help the economy. the central bank is widely expected to announce an extension of its bond buying program when it meets next week. erika miller, "n.b.r.," new york. >> tom: with the fiscal cliff about three weeks away, washington hasn't made much progress to avoid it. that was the assessment from one of those directly involved: house speaker john boehner. the top republican today accused president obama of, "slow walking", the economy to the edge of the cliff. he repeated his call for the president to send congress a plan that can pass both houses of congress. tax rates are the major sticking point. the president wants to raise them for america's highest earners, house republicans strongly oppose: >> instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington's got a spending problem, not a revenue pro
MSNBC
Dec 5, 2012 11:00pm PST
nonsense. >>> also tonight, the simpson's mr. burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of the job she's done as secretary of state for this country. >>> welcome back to "hardball." we know now that mitt romney blames his loss on obama's gifts. i should put the quote marks around that. the much maligned 47% came out in force. last night paul ryan distanced himself from his running mate's remarks. take a look. >> both parties tend to divide americans into our voters and their voters. let's be really clear. republicans must steer far clear of that trap. we must speak to aspirations and anxieties of every amer
FOX
Dec 9, 2012 5:00pm PST
christine le guard said it must do more than avoid the fiscal cliff to get america's economy growing again. >> there is still that degree of uncertainty that fuels doubt, that prevents investors and entrepreneurs and households from making investments because they don't know what it will be. >> house speaker john boehner complains there has been no progress in avoiding the most immediate crisis. >> when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: democrats show no signs of backing off from supporting the president' hard line stance on raising the income tax rate on the rich. >> we democrats realize there has to be two sides to this bargain, but we're not going to go back to what bewy did in 2011. we put both revenues and cuts on the table. >> reporter: but despite the impasse in washington, the director sees promising signs that the economy may be improving. for the fiscal crisis she recommended a balanced solution, spending cuts combined with an increase in tax revenue. el geth corridan, kut
PBS
Dec 5, 2012 4:30pm PST
republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion a year in expenses. but they won't be cheap, resulting in a billion-dollar charge against fourth-quarter earnings. is this gloomy news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other workers in the last few years. the thing is, citi has a new c.e.o. in michael corbat, and experts say he's anxious to make his mark, even if that includes cutting staff. and the need to slim down is not ique to citi; it's indtry- wide. a finan
CSPAN
Dec 13, 2012 6:00am EST
? >> if the economy went off the fiscal cliff, our assessment and the cbo assessment and outside forecasters think that would have a significant adverse effects on the economy and the unemployment rate. on the margin, we would try to do what we could. we could perhaps increase a bit. i want to be clear that we cannot offset the full impact of the fiscal cliff. it is just too big given the tools we have available and limitations on our policy tool kit at this point. as far as the terminology, people have different provinces about what they want to call things. i think it is a sensible term because i think that fiscal policy supporting -- supporting the economy, if it is not done, i think the economy will go off a cliff. i don't buy the idea that a short-term descent of the fiscal cliff would not be costly. we are already seeing costs. why is it that consumer confidence dropped so sharply this week? why did small business confidence dropped so sharply? why are the market's volatile? why is business investment among its weakest levels during the recovery? all of these things can be traced to the anticipation and concern about the fiscal cliff. we don't know exactl
FOX
Dec 5, 2012 4:00am PST
telling traders about the prosepects of the economy going over the fiscal cliff? > > angie, it has been a very interesting trade in this space recently. people look to gold as the safe haven, yet we have seen gold prices come off about 5% over the last couple months. and in fact, yesterday was just touching a major support area, both psychologically and technically, right around that $1,700-an-ounce level. now, you would think that if the gold market, or people trading gold, were really that concerned about the fiscal cliff, that would be the safehaven, and we wouldn't see this major sell- off. but, we are seeing that, and actually if we break through this $1,700 level, the next major area of support is down about another 5%, around $1,620. > so the fact that people are not rushing to gold tells you that there is a chance that maybe things will be ok. > > exactly. > good to have you on the show. that's scott bauer of trading advantage. > > thanks angie. newly-elected massachusettes senator elizabeth warren will reportedly take a seat on the senate banking committee. the huffington post
CBS
Dec 9, 2012 6:30am EST
quit. >> detroit goes into bankruptcy before the new year. >> to avoid the fiscal cliff, we will be cut between the week between christmas and new years. >> we go over the cliff and get a deal right after new years. >> mort? >> the economy is going to be very weak despite the solution on the fiscal cliff. >> ryan is right on the cliff, by the way. i predict the u.s. afghanistan by december 31, 2013. bye-bye.
CNN
Dec 9, 2012 6:00am PST
from the outside to the u.s. economy? >> the fiscal cliff. >> well, first of all, i think there are issues that are beginning to improve, and you know, whether you look at the euro zone, making progress, but certainly improving, and with good numbers, because if you look at the aggregate euro zone deficit or debt, those numbers are better. china's numbers have improved lately, and you have political stability back. so the volatility of the instability factors that are outside have reduced overtime. the real threat that we have is here, with us, and that can be addressed. >> but when you look at -- i understand that bangs being downsides our down afraided, you have more than 11% unemployment in the euro zone, which is a good deal higher than here, are those things threats to the u.s. economy, or do you think it is now destabilizing, or has the potential to destabilize the world economy? >> i think because it is relatively closed, it trades with itself and immediate neighbors, is less vulnerable to what happens outside, for instance in europe. but, the consequences would be relatively
CNN
Dec 9, 2012 9:00am EST
return, what happens to the global economy if the u.s. goes over the fiscal cliff? >> markets i think would react very quickly. four sixteen seventy six a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per phone. would we get the same coverage? same coverage on america's best networks. you saved $146.76 by switching to straight talk. awesome! now you can afford to share your allowance with me. get the season's hottest smartphones like the samsung galaxy s2 and get straight talk with unlimited data for just $45 a month -- from america's gift headquarters. walmart. ♪ at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. this holiday season, get a 2013 malibu ls for around $199 per month, or get $1,000 holiday bonus cash. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cle
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